Safestore faces down shareholder revolt over exec pay policy

Safestore has fended off a shareholder revolt against the self-storage company’s executive pay plans by the narrowest of margins.

At Safestore’s annual general meeting on Wednesday, just 51.7% of shareholders voted for the remuneration report and Claire Balmforth, chair of the remuneration committee, survived with just 52.3% voting for her re-election.

It comes a year after Safestore was forced to withdraw its remuneration proposals in the face of shareholder criticism and then only narrowly secured the support it needed for revised plans.

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